On-chain analytics platform Lookonchain has revealed that crypto trader Wynn achieved remarkable financial gains, amassing a substantial $46 million fortune in just two months. His trading strategy involves high-leverage bets on Bitcoin and memecoins, demonstrating a willingness to leverage significant sums for potential rewards. Notably, his bold action involved a 40x leveraged long on Bitcoin, resulting in over $5.4 million in paper profits from BTC’s recent surge above $100,000. He also saw substantial gains with PEPE, generating nearly $24 million. Further, leveraged longs on TRUMP and FARTCOIN added an additional $10 million to his portfolio. Smaller positions like HYPE generated approximately $31,000. While some applaud Wynn’s trading acumen, others have raised concerns about his past activities, citing a potential rug pull in 2024 and lingering suspicions about low-cap promotion schemes. Critics suggest that he may operate more as a crypto influencer than a trader. The broader market witnessed volatility as Bitcoin and Ethereum surged past $100,000, inflicting losses on short sellers who faced over $879 million in liquidations on May 9 alone. More than 125,000 traders were wiped out in 24 hours, with ETH short positions suffering the most significant hit. Despite this bearish sentiment, Hyperliquid has emerged as a leading force in decentralized trading, processing over $9.2 billion in daily volume and holding a commanding 60% market share in perpetual trading contracts. Hyperliquid’s native token, HYPE, has experienced significant gains of over 80% over the past month but is still slightly down year-to-date. Wynn’s successes underscore the high-stakes nature of DeFi trading, where risks and rewards are often intertwined.